Monad’s MON Token Makes Weak Trading Debut as Soft Demand, Tokenomics Raise Concerns
Monad's MON token debuted weakly with low volume, trading below its $0.025 sale price amid concerns over its token distribution.Summary
The MON token for the new Monad layer-1 blockchain experienced a lukewarm trading debut on Monday, struggling with soft demand and low volume. The token traded around $0.02417 initially, giving it a market capitalization of about $262 million based on its 10.83 billion circulating supply. Trading volume was subdued, with only $50 million in the first 100 minutes, which is less than typical for a major layer-1 launch. This weak start followed an underwhelming public token sale on Coinbase’s Token Platform, where 7.5% of the supply sold at $0.025, contrasting sharply with instantly sold-out launches like Plasma. Furthermore, community debate surrounds Monad's tokenomics, particularly the large 27% allocation held by the team, which some observers believe could negatively impact market sentiment.
(Source：CoinDesk)